WB: Austria Development Bank lends €13 million for Namami Gange project

NEW DELHI: Oesterreichische Entwicklungsbank, the Austrian Development Bank, has lent €13 million for setting up a sewerage treatment project in West Bengal, as per an official. The bank has offered the amount as a loan, which makes it the first European Direct Foreign Investment (DFI) lending for Hybrid Annuity Model (HAM) projects of the National Mission for Clean Ganga (NMCG).

Vishvaraj Environment Pvt Ltd, the firm executing the project, said in a statement, that fund is provided for the Namami Gange Project of sewerage treatment plant for Maheshtala. The cost of the project will be provided by a mix of NMCG grant, equity and debt, the statement added.